Money supply reaches $2,33 trillion

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ZIMBABWE’S broad money supply, which consists of domestic and foreign currency deposits, increased to $2,33 trillion in December last year from $2,07 trillion in November, the latest data from the Reserve Bank of Zimbabwe (RBZ) shows.
In its monthly economic review for December, the RBZ said the money stock was composed of foreign currency deposits at 56,78 percent, local currency deposits, at 43,04 percent; and currency in circulation, at 0,18 percent. Broad money expanded by 12,89 percent month over month in December 2022, compared to 10,13 percent in November 2022.

“The growth largely reflected increases of $115,80 billion and $106,09 billion in foreign currency accounts (FCAs) and local currency transferable deposits, respectively,” the central bank said. Domestic claims climbed by 13,94 percent during the reviewed month compared to the 15,04 percent in the preceding month.